Gary Savage: Why Silver Will Outperform The Miners | Gold, Miners & Oil

Why It Matters

Investors should consider rotating into silver and be cautious with high-flying tech names and miners, since macro and technical signals point to growing downside risk in equities while metals may resume a durable uptrend. Positioning decisions now could determine exposure to significant upside in metals versus heavy losses if the parabolic equity phase reverses.

Summary

Analyst Gary Savage says precious metals likely bottomed in March and silver is entering an advancing intermediate cycle, making higher highs and higher lows that should allow it to outperform the miners, which he expects to diverge. He warned that much of equities—especially semiconductors—are in a late-stage parabolic phase with market warnings like Hindenburg omens and a diverging banking index, making the rally riskier. Savage expects the Fed to cut at some point and notes near-term market manipulation around an options expiration could temporarily cap metals, but he doesn’t believe metals will retest March lows. He also floated an extreme scenario from earlier calls (e.g., very high silver and gold targets) while urging caution against chasing the final euphoric leg of the stock market rally.

Original Description

Stijn Schmitz welcomes Gary Savage to the show. Gary Savage is a retired entrepreneur, investor, and the President of Smart Money Tracker Premium. The discussion centers on current market trends, with Gary cautioning that the stock market may be entering a final parabolic bubble phase, particularly in semiconductors, though he warns of danger signs like Hindenburg Omens and a diverging banking index, which suggest a top could be impending. He shifts focus to precious metals, believing they bottomed in March and are now in an advancing intermediate cycle, though momentum remains erratic due to options expiration pressures.

Recorded on: May 25, 2026

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Timestamps:

00:00:00 - Introduction

00:00:50 - Stock Market Bubble Concerns

00:02:22 - Equity Market Breadth Issues

00:03:48 - Precious Metals Cycle Outlook

00:05:57 - Gold Silver Correction Analysis

00:12:20 - Wall of Worry Phase

00:14:20 - Gold Patterns & Conflict

00:19:43 - Buying Physical Metals Advice

00:23:07 - Gold Miners and Leverage

00:28:19 - Oil Market Opportunity

00:31:32 - Inflation Cycle Outlook

00:33:58 - Smart Money Tracker Update

Guest Links:

X: https:/x.com/garysavage1

Blog: https://blog.smartmoneytrackerpremium.com/

YouTube: https://www.youtube.com/channel/UCgiNs7gCxEvgBE1HHvoOKTQ/videos

Website: https://smartmoneytrackerpremium.com/login/

Gary Savage is a retired entrepreneur living in Las Vegas. He has been investing in stocks and commodities for 15+ years. Gary is a self-made multi-millionaire and attributes his financial success to savvy investments made in owning/selling several businesses, real estate, and, more recently, the stock market. He is also a national Judo, powerlifting, and Olympic weightlifting champion and world record holder. Gary holds national titles in 3 different sports and continues to challenge himself as an avid rock climber, and recently his newest endeavor bowling (two perfect 300 games so far).

Gary publishes the Smart Money Tracker, a daily and weekend market newsletter available online by subscription only, at a very modest price. This subscription-only site provides Gary's in-depth daily commentary and chart analysis of numerous markets, including the stock, precious metals, oil, and currency markets.

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